Well you can continue to play live and be +EV but the variance will make or break you if you play underolled.

Emphasis on the variance will make or break you.

Yes, you're a winner in the game but not by a large enough margin to overcome variance and have no risk of ruin if you're only playing with 5BI or whatever.

I'm not saying it can't be done, what i'm saying is you will have a moderately high risk of ruin if you're playing with very few buyins and you have to be prepared for the possibility that an idiot with top pair makes a runner runner flush against your set for a 4BI pot to send you broke.

Of course you could go on a sick heater and win 20BI and be well rolled; but don't take that as an indication you can always play underrolled at 2/5 or 5/T or whatever and move up because you're just experiencing the good kind of variance. Yes, you're beating the games, but if you want a very low risk of ruin, you shouldn't be looking to move up until you're well rolled (20BI for the level you want to move up to and you have to be prepared to move back down if need be) and you have been beating the level below for a solid winrate over a sample of at least 10k hands (@25h/h thats at least 400 hours of live play)

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